• Ecolab average price/book ratio for 2023 was 6.58, a 8.94% increase from 2022.
• Ecolab average price/book ratio for 2022 was 6.04, a 30.97% increase from 2021.
• Ecolab average price/book ratio for 2021 was 8.75, a 7.23% decline from 2020.

Price/book ratio can be defined as